Ok, but now we've narrowed it down to being right based on your recent post.

So you want to be right. That's what you want from the market. The market can give you this, but it won't also give you money. It will take money to compensate for the cost of making you right. This is what you want, until you decide that's not what you want.

Established member

Ok, but now we've narrowed it down to being right based on your recent post.

So you want to be right. That's what you want from the market. The market can give you this, but it won't also give you money. It will take money to compensate for the cost of making you right. This is what you want, until you decide that's not what you want.

Established member

Ok, but now we've narrowed it down to being right based on your recent post.

So you want to be right. That's what you want from the market. The market can give you this, but it won't also give you money. It will take money to compensate for the cost of making you right. This is what you want, until you decide that's not what you want.

heres another conundrum i thought up while having my balls squeezed in a losing position - it waits for you to close out your trade before it continues to go in the direction you wanted.
just closed out -23.was up 19 having worked my ass off scalping 1s and 2s so ending the day -4,fk it for today.
anyhow,this -23 i had an opportunity to cut at +1 but having taken 1s and 2s all day i wanted more this time,even though the bias had changed.now looking back i understand why i did this.i was blinded by wanting more and stopped asking myself wheres support/resistence/energies etc etc.got to keep asking those questions,you cant get blinded with greed just wanting more.want more by all means but in the direction of the market,not against it.

Senior member

heres another conundrum i thought up while having my balls squeezed in a losing position - it waits for you to close out your trade before it continues to go in the direction you wanted.
just closed out -23.was up 19 having worked my ass off scalping 1s and 2s so ending the day -4,fk it for today.
anyhow,this -23 i had an opportunity to cut at +1 but having taken 1s and 2s all day i wanted more this time,even though the bias had changed.now looking back i understand why i did this.i was blinded by wanting more and stopped asking myself wheres support/resistence/energies etc etc.got to keep asking those questions,you cant get blinded with greed just wanting more.want more by all means but in the direction of the market,not against it.

im still on the road to enlightenment,havent attained zen yet.
believe me i dont intentionaly look for 1s and 2s.there was also a 3/4/5 and thats all it seemed to want to give me today.
i know the mistake i made with the -23.now its a case of trying to remember it and not to repeat it.one small step in the right direction - i didnt double up.

Established member

made one or two stupid mistakes which i should know not to by now,mainly to cut losses early( -25,-23 biggest this week,but a nice change from the 100s) and secondly not to get in for just a possible few points.
also working on an anti system to my system which works just as well as my system (makes me wonder whether if i have a system at all!).the premise of this system is to go against the original system but to keep(or try to keep) tighter stops.
the key to both systems i realise is to act on the stops which is slowly now sinking in.

Established member

what happened to this post? was about to reply.
the house has the edge,of this there is no doubt.
even with a 1 point spread,a 10 point move in your favour gives you 8 points and against you gives you a loss of -12.this is only one of the handicaps we know of,who knows what other tricks they employ.
do we know how lagging the data we see is? tried taking a trade and it had moved in my favour by a few points and was rejected.took another and the price had moved against me and ofcourse it was accepted.
ofcourse brokers will give you BS of if they didnt do that then they would be requoting all the time.Where is this liquidity these god damn algos are supposed to be providing
alas we fight on.you only lose when you quit.only in this game you lose less the sooner you quit when youve realised your wrong.USE STOPS!

Senior member

what happened to this post? was about to reply.
the house has the edge,of this there is no doubt.
even with a 1 point spread,a 10 point move in your favour gives you 8 points and against you gives you a loss of -12.this is only one of the handicaps we know of,who knows what other tricks they employ.
do we know how lagging the data we see is? tried taking a trade and it had moved in my favour by a few points and was rejected.took another and the price had moved against me and ofcourse it was accepted.
ofcourse brokers will give you BS of if they didnt do that then they would be requoting all the time.Where is this liquidity these god damn algos are supposed to be providing
alas we fight on.you only lose when you quit.only in this game you lose less the sooner you quit when youve realised your wrong.USE STOPS!

Established member

Sounds like you're over trading. Not sure what market you're in but I'd say, in no particular order:

1 market only

1 trade per day maximum, win or lose

2 timeframe charts maximum (OK, maybe 3 later on but the 3rd is only to make sure you're not trading into something and to give you some idea where your trade might go if you're right).

Place your stop based on the larger of your 2 charts: if your stop is based on the smaller chart you are asking for trouble, especially with Forex

Draw 1 line on the larger chart and observe on the smaller chart: you will learn where to draw your line

If you're day trading, longer term TA and trend etc is debatable. Believe what you want to believe

Try to capture as much of the daily range as you can. The market can and does move hundreds of pips every day, a small retail trader is generally doomed to failure trying to scalp a couple of pips here and there.

Your entry and reason for entry has absolutely no bearing on the outcome of a trade. Your exit is what makes or loses you money.

Just take it as read that you are always wrong, the market is always right: gets you started on the right foot.

If you have no patience and need action, I'd look seriously as to whether trading is for you as it's about the most boring endeavour imaginable....until you are losing money, then it gets very VERY exciting.

If you're day trading get very used to the phenomenon of the move of the week occuring 2 hours before you've woken/when you've gone to the loo/while you're making lunch/after you've finished for the day, on the day you didn't trade after three losing days etc etc etc....and for these reasons all the backtesting/expectancy stuff can't help you

Established member

terrible start to the week,first 6 trades were losses which was demoralising and disheartening.the funny thing is i knew why - not the best of entries, then not cutting losses and then blinded by rage and revenge trading(same old mistakes,not quite ironed out yet).
after calming and settling down,things improved.i began to cut losses,still hating it but becoming more accepting of it.
perhaps still over trading but now will address that too.

Established member

im not one to mind criticism.helpful points i try to take onboard and discard the others.
this game isnt just about trading,its also about the thinking of the minds of others and thinking about that can be beneficial to trading.

Established member

Sounds like you're over trading. Not sure what market you're in but I'd say, in no particular order:

1 market only

1 trade per day maximum, win or lose

2 timeframe charts maximum (OK, maybe 3 later on but the 3rd is only to make sure you're not trading into something and to give you some idea where your trade might go if you're right).

Place your stop based on the larger of your 2 charts: if your stop is based on the smaller chart you are asking for trouble, especially with Forex

Draw 1 line on the larger chart and observe on the smaller chart: you will learn where to draw your line

If you're day trading, longer term TA and trend etc is debatable. Believe what you want to believe

Try to capture as much of the daily range as you can. The market can and does move hundreds of pips every day, a small retail trader is generally doomed to failure trying to scalp a couple of pips here and there.

Your entry and reason for entry has absolutely no bearing on the outcome of a trade. Your exit is what makes or loses you money.

Just take it as read that you are always wrong, the market is always right: gets you started on the right foot.

If you have no patience and need action, I'd look seriously as to whether trading is for you as it's about the most boring endeavour imaginable....until you are losing money, then it gets very VERY exciting.

If you're day trading get very used to the phenomenon of the move of the week occuring 2 hours before you've woken/when you've gone to the loo/while you're making lunch/after you've finished for the day, on the day you didn't trade after three losing days etc etc etc....and for these reasons all the backtesting/expectancy stuff can't help you

some interesting points.
my market is mainly the euro/dollar and occasionally ftse/dax.
i definetly need to take fewer trades.
the multiple time frames seem to add to the confusion so i base my entries/exits on just the 3min.
i have to disagree with you on the exits just making/losing the money.why enter a bad trade just to cut it with a loss?

Established member

some interesting points.
my market is mainly the euro/dollar and occasionally ftse/dax.
i definetly need to take fewer trades.
the multiple time frames seem to add to the confusion so i base my entries/exits on just the 3min.
i have to disagree with you on the exits just making/losing the money.why enter a bad trade just to cut it with a loss?